Announcements

• The funding will enable ElringKlinger to develop innovative battery cell housing components and get them ready for industrial-scale production
• The German Federal Ministry for Economic Affairs and Energy and the state of Baden-Württemberg will provide a total of EUR 33.8 million by the end of 2026
• Dr. Stefan Wolf, CEO of ElringKlinger AG: "With our innovative battery cell housing design, we want to make a lasting contribution toward climate-neutral battery cell manufacture in Europe."

Dettingen/Erms (Germany), April 27, 2021 +++ ElringKlinger AG's project to develop innovative battery cell housing components and get them ready for industrial-scale production is to be funded by the German Federal Ministry for Economic Affairs and Energy (BMWi) and the state of Baden-Württemberg as part of the second European large-scale IPCEI (Important Project of Common European Interest) for battery technology. Thomas Bareiß, Parliamentary State Secretary at the BMWi, and Dr. Nicole Hoffmeister-Kraut, Minister of Economic Affairs of the State of Baden-Württemberg, presented Dr. Stefan Wolf, CEO of ElringKlinger AG, with the official funding approval earlier today. The small-scale ceremony at the chamber of commerce and industry in Reutlingen was held behind closed doors due to the coronavirus pandemic, although the speeches, the presentation of the official approval, and the subsequent panel debate were live-streamed on the BMWi website for journalists and the general public.

The second battery IPCEI, entitled "European Battery Innovation - EuBatIn," is being coordinated by Germany. It was approved by the European Commission in late January 2021, at the same time as the companies involved were also announced. All in all, twelve EU countries are providing up to EUR 2.9 billion in funding to develop a European value chain for battery production. ElringKlinger is one of only eleven German companies to obtain funding of this kind as part of the EuBatIn program.

ElringKlinger's project is geared toward the development and industrial-scale production of innovative battery cell housing components and stands to receive a total of EUR 33.8 million in funding by the end of 2026. The innovative design of the cell lid allows fewer and less complex components to be used and reduces the need for energy-intensive raw materials such as aluminum and copper. The cell lid ensures that power is transmitted into and out of the cell via its poles. ElringKlinger's innovative concept means that up to a quarter of the components can be eliminated in full, reducing the amount of manufacturing work and materials required and thus shrinking the product's carbon footprint by around 40 percent.

Dr. Stefan Wolf, CEO of ElringKlinger AG, comments: "In the project for which we've secured funding, we're putting our core skills such as forming and injection molding, coating technologies and toolmaking to targeted use in order to develop a battery cell housing design and manufacture it on an industrial scale. Building on the insights and experience we've gained, we not only want to harness the market potential for cell housings in Europe but also to make a lasting contribution to European climate-neutral battery cell production."

Thomas Bareiß, Parliamentary State Secretary at the BMWi, adds: "With the battery IPCEIs, the battery value chain in Europe is continuing to take shape. As well as cell manufacture, however, it's also about components like battery housings or the production machinery for batteries. With its IPCEI project, ElringKlinger will be helping to create a competitive value chain for the European battery industry by developing an innovative cell housing design and getting it ready for industrial-scale production. A project like this is a source of pride: the company is opening up new areas of business, thus securing value creation and jobs in the region, particularly at this time of major technological change."

Dr. Nicole Hoffmeister-Kraut, Minister of Economic Affairs of the State of Baden-Württemberg, also underlines the importance of a battery industry: "Battery technology is a key technology for the future that will be absolutely indispensable in all areas of industrial value creation. We want to be covering around 30 percent of global demand for battery cells from German and European production by 2030. Baden-Württemberg is also to play a leading role in this area and adopt a vital position along the whole of the value chain. Thanks to ElringKlinger's IPCEI project, we're a big step closer to achieving this goal."

In the battery technology segment, ElringKlinger's product range includes components such as cell contact systems, module connectors, and pressure equalizers. The Group has been manufacturing cell contact systems on an industrial scale for around ten years now. Besides components, ElringKlinger also offers high-performance prismatic and cylindrical modules as well as complete battery systems. Its first orders for series production are currently in the pre-production phase.

Shanghai, Dettingen/Erms, 21. April 2021 +++ At AUTO SHANGHAI 2021, ElringKlinger will be showcasing suitable solutions for vehicles of all drive types - be they classic combustion engines, hybrids or purely electrically powered cars. In addition to innovative gaskets and thermal and acoustic shielding systems, the company will be presenting complete fuel cell stacks and components, products from the field of battery technology and components for use in electric drive units. Extensive safety precautions will be taken at the booth so that visitors can enjoy their stay even in times of pandemic.

The automotive industry is in a state of flux. In addition, the world has been in a state of emergency for over a year now. "It is all the more pleasing that we can once again come into direct contact with our customers this year. This important trade fair offers a first-class platform to take a step back into normality. It is nice that we will be able to present a number of premieres at our stand this year," says a delighted Humphrey Chen, General Manager of ElringKlinger China Ltd.

These include various products from the field of fuel cell technology, for the first time also of the newly founded join venture EKPO Fuel Cell Technologies. The "NM12 Single" fuel cell stack module (PEMFC) with 359 cells based on metallic bipolar plates with an electrical output of 123 kWel is designed for high power requirements. ElringKlinger will also be exhibiting the "NM5-EVO" fuel cell stack module (PEMFC) with integrated system functionalities. This 335-cell stack module has an electrical output of 76 kWel and can be used for integration into drive systems as a fuel cell-battery hybrid system or range extender. "Especially in China, our fuel cell stacks are a competitive alternative to battery electric drives or the internal combustion engine due to their high performance," Chen explains.

Two battery modules and production-ready components
In addition to its long-standing expertise in the field of fuel cells, ElringKlinger has also been active in the area of battery technology for a good decade. As part of AUTO SHANGHAI 2021, the company will be presenting two different battery modules - a 48 V module made of prismatic lithium-ion cells and a 60 V module made of cylindrical lithium-ion cells for integration into a battery storage system up to a total system voltage of 400 V. "In addition, there are various components on display at our booth that underscore the fact that ElringKlinger also has broad-based expertise in this area. In addition to pressure equalization elements for protecting battery storage housings, these include cell contacting systems that are used in traction batteries for hybrid and battery-electric vehicles," Mr. Dirk Schneider, Vice President of Sales AP explains in detail.

Wide range of products for the modern combustion engine
Despite the increasing shift towards alternative drive technologies, the modern combustion engine will also still play an important role in the coming years. ElringKlinger has more than 100 years of experience in the field of gasket technology and has, for example, developed the cylinder-head gasket into a high-tech product over time. There are several examples of this to look at.

From the field of shielding technology, various ElroActive^TM systems (thermal shielding) and ElroShield^TM systems (thermal and acoustic shielding) will be on display at AUTO SHANGHAI 2021.

Lightweight plastic components are used in all vehicles, regardless of their powertrain type. These include cockpit cross members and a door module carrier made from thermoplastic composites and plastic injection, which can be viewed.

Extensive hygiene concept at the booth
To ensure that all visitors feel safe, ElringKlinger has taken various precautions. "The safety of all is important for us - for our customers, visitors at our booth and teams organizing and executing the exhibition. Therefore we will organize special prevention in helping social distancing, face masks protection and assure hygienic prevention in order to make this event not only a success in terms of business but also a good example for getting back to business together with the challenging pandemic threats," says Chen.

ElringKlinger at AUTO SHANGHAI 2021
Hall 1.2, Booth 5BI101

Dettingen/Erms (Germany), April 16, 2021 +++ ElringKlinger AG (ISIN DE 0007856023 / WKN 785602) recorded a strong performance in the first quarter of 2021. According to preliminary figures, the Group generated revenue of EUR 424 million (Q1 2020: EUR 396 million) and earnings before interest and taxes (EBIT) of EUR 48.4 million (Q1 2020: EUR 16.0 million) in the first three months of the current financial year. This corresponds to an EBIT margin of 11.4% (Q1 2020: 4.0%). Alongside consistently solid aftermarket business, this was attributable to the high level of revenue seen across the board. The bottom-line result also includes a gain of EUR 10.9 million from the sale of ElringKlinger's Austrian subsidiary to the French partner Plastic Omnium.

In addition to revenue and earnings, other key financial indicators for the first quarter of 2021 also proved very favorable: operating free cash flow, for example, amounted to EUR 28.6 million (Q1 2020: EUR -2.2 million). Not included in this figure are the proceeds of EUR 13.4 million from the sale of the Austrian subsidiary subsidiary and a payment of EUR 30 million received by the company on the basis of an agreement between ElringKlinger and the French supplier Plastic Omnium as part of their fuel cell partnership. The latter is aimed at accelerating further capacity expansion of the joint company EKPO Fuel Cell Technologies GmbH, which will be fully consolidated within the ElringKlinger Group.

Net working capital was further optimized in the first quarter just ended: after EUR 453 million as of March 31, 2020, it now stood at EUR 430 million. Based on the Group's positive operating free cash flow, net debt was also further reduced to EUR 400 million (Q1 2020: EUR 603 million), resulting in a significant improvement in the net debt ratio (net debt/EBITDA) of 1.9 (Q1 2020: 3.1).

In view of the strong start to the year, ElringKlinger is adjusting its guidance for the current financial year. While organic revenue is still expected to develop roughly in line with market levels, the EBIT margin is now projected at around 5 to 6% (previously: around 4 to 5%). The outlook for the remainder of the year continues to be subject to considerable uncertainty, with underlying conditions remaining challenging and difficult. Commodity prices, for instance, are trending at very high levels and supply chains are not consistently robust. Additionally, in the course of the pandemic, it cannot be ruled out that production activities may have to be suspended temporarily at some of the 44 sites worldwide. This would have corresponding effects on revenue and earnings. - The outlook for the other key financial indicators remains unchanged from the statements made in the 2020 annual report.

ElringKlinger will publish its full quarterly results and the report on the first quarter of 2021 as planned on May 6, 2021.